Catalyst Capital Advisors LLC Makes New $44,000 Investment in Genuine Parts (NYSE:GPC)

Catalyst Capital Advisors LLC bought a new position in Genuine Parts (NYSE:GPC) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 318 shares of the specialty retailer’s stock, valued at approximately $44,000.

Several other hedge funds also recently bought and sold shares of the company. QRG Capital Management Inc. raised its holdings in shares of Genuine Parts by 7.9% during the third quarter. QRG Capital Management Inc. now owns 15,261 shares of the specialty retailer’s stock worth $2,132,000 after acquiring an additional 1,120 shares during the period. Intact Investment Management Inc. raised its holdings in shares of Genuine Parts by 4.3% during the third quarter. Intact Investment Management Inc. now owns 33,662 shares of the specialty retailer’s stock worth $4,702,000 after acquiring an additional 1,400 shares during the period. Van ECK Associates Corp raised its holdings in shares of Genuine Parts by 11.0% during the third quarter. Van ECK Associates Corp now owns 23,057 shares of the specialty retailer’s stock worth $3,221,000 after acquiring an additional 2,286 shares during the period. Conning Inc. raised its holdings in shares of Genuine Parts by 8.2% during the third quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock worth $36,499,000 after acquiring an additional 19,795 shares during the period. Finally, VELA Investment Management LLC raised its holdings in shares of Genuine Parts by 24.3% during the third quarter. VELA Investment Management LLC now owns 3,884 shares of the specialty retailer’s stock worth $543,000 after acquiring an additional 760 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. UBS Group dropped their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Evercore ISI raised their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Truist Financial decreased their target price on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Finally, The Goldman Sachs Group decreased their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Stock Performance

Shares of GPC opened at $123.28 on Thursday. The firm has a 50-day moving average of $133.66 and a 200-day moving average of $140.42. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The company has a market cap of $17.14 billion, a PE ratio of 15.87 and a beta of 0.92. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. During the same period last year, the business earned $2.49 EPS. The business’s revenue was up 3.0% on a year-over-year basis. As a group, equities analysts forecast that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Genuine Parts Company Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.